U.S. Markets closed
  • S&P 500

    3,911.74
    +116.01 (+3.06%)
     
  • Dow 30

    31,500.68
    +823.32 (+2.68%)
     
  • Nasdaq

    11,607.62
    +375.43 (+3.34%)
     
  • Russell 2000

    1,765.74
    +54.06 (+3.16%)
     
  • Crude Oil

    107.06
    +2.79 (+2.68%)
     
  • Gold

    1,828.10
    -1.70 (-0.09%)
     
  • Silver

    21.13
    +0.09 (+0.42%)
     
  • EUR/USD

    1.0559
    +0.0034 (+0.3273%)
     
  • 10-Yr Bond

    3.1250
    +0.0570 (+1.86%)
     
  • Vix

    27.23
    -1.82 (-6.27%)
     
  • GBP/USD

    1.2270
    +0.0009 (+0.0736%)
     
  • USD/JPY

    135.2100
    +0.2770 (+0.2053%)
     
  • BTC-USD

    21,101.99
    +144.48 (+0.69%)
     
  • CMC Crypto 200

    462.12
    +8.22 (+1.81%)
     
  • FTSE 100

    7,208.81
    +188.36 (+2.68%)
     
  • Nikkei 225

    26,491.97
    +320.72 (+1.23%)
     

NFT Platform Immutable Launches $500M Venture Fund for Web3 Games

·1 min read
Vanessa Nunes

Don't miss CoinDesk's Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.

NFT scaling platform Immutable launched a $500 million venture fund focused on Web 3 games and NFT projects, according to a statement Friday.

  • The new venture fund will also build on the Immutable X protocol through token grants and investments. IMX is Immutable X’s native token.

  • Immutable said the fund will collaborate with crypto and gaming investors including BITKRAFT, Animoca, Arrington Capital, Double Peak, Airtree, King River Capital and GameStop.

  • Immutable Ventures has invested in Web3 companies and NFT startups including Starkware, Stardust, PlanetQuest and Topology.

  • Some of the names already building on Immutable include GameStop, TikTok, Opensea, Ember Sword and more.

  • In March, Immutable raised $200 million in a Series C funding round that was led by Singapore state investment fund Temasek at a $2.5 billion valuation.

Earlier this year, GameStop partnered with Immutable X for the launch of its NFT marketplace.